text:
Annual home price gains are beginning to slow due to rising mortgage rates along with difficulties in qualifying for a mortgage, reports the Case Shiller 20-city Index in February. The Index fell to 12.9%, just below the 13% expected and down from the 13.2% recorded year-over-year in January. The 12.9% is down from a recent high of 13.7% with 13 of the 20 tracked cities posting lower annual rates.
The Conference Board reported this morning that its Consumer Confidence Index fell in April to 82.3, down from the 83.9 registered in March. The 82.3 missed expectations of 83.2. The Conference Board said that consumers assessed current business and labor market conditions less favorably than in March. However, consumers do not see the economy or the labor markets losing the momentum that has been building up over the past several months.
The U.S. homeownership rate fell to its lowest level in nearly 19 years due to rising mortgage rates and higher home prices. The Census Bureau reported that the homeownership rate fell to 64.8% in the first quarter of 2014, down from the 65.2% in the final quarter of 2013. That is the lowest rate since the 64.7% recorded in the second quarter of 1995. The rate peaked at 69.2% in June 0f 2004.
Economic data had little impact t on the capital markets today as all eyes continue to focus in on the geopolitical news out of Europe. The republic of Crimea has voted to break off from Ukraine and join Russia. President Obama has stated that Crimea’s vote “would never be recognized” by the U.S. and warned of further military action toward other parts of Ukraine.
The New York Federal Reserve reported that its Empire Manufacturing Index rose to 5.6 in March, above the 4.5 recorded in February and nearly inline with estimates. Within the report it showed that both the new orders index and the employment component both saw positive gains. Readings over 0.0 indicates improving conditions, below indicates worsening.
Over in housing news, the National Association of Home Builders (NAHB) March Housing Market Index rose to 47 in March from the 46 recorded in February and below the 50 that was expected. The NAHB said that poor weather and difficulties in finding lots and labor weighed on the index. A number below 50 indicates that more builders view conditions as poor than good.
Americans filing for first time unemployment benefits fell to lows not seen since late November, signaling an uptick in the labor market. The Labor Department reported that Weekly Initial Jobless Claims fell by 9,000 in the latest week to 315,000, which was below the 329,000 that was expected. As the country moves out of the unbearable cold weather and massive snowstorms, the sector could be on its way to greener pastures.
In the foreclosure arena, RealtyTrac reported that foreclosure activity across the nation fell to its lowest level in more than seven years, due in part to the rise in home equity. February foreclosure starts fell by 9% from January to February and are down a whopping 27% from one year earlier. However, 14 states saw an increase in foreclosure starts last month, with New Jersey seeing an increase of 126% from a year ago.
The Commerce Department reported on Thursday that after falling for 2 months, Retail Sales rose by 0.3%, above the 0.2% expected in February, as consumers purchased a variety of goods, despite the harsh winter weather last month. When stripping out autos, sales also rose by 0.3%, above the 0.2% expected. Retail Sales make up about 1/3 of consumer spending, the main driver behind economic growth. If consumer spending can continue to expand, economic growth will continue to increase.
As the spring and summer driving seasons near, one thing is for certain – higher gas prices at the pump. The national average price for a regular gallon of gasoline is $3.48, up from $3.28 a month ago as prices have increased 28 straight days. AAA predicts that prices will rise an additional 10 to 20 cents this spring and could rise more if the tensions in the Ukraine ramps up. Russia is the third largest oil producing country behind Saudi Arabia and the U.S. and any disruptions could cause oil prices to increase.
The Bureau of Labor Statistics reported this morning that its JOLTS report, Job Openings and Labor Turnover Survey, revealed that job openings rose by 1.5% from December to January. The report may not have as much impact as the monthly Jobs Report, but it does give insight into the labor market on hires, quits, layoffs and job openings. The report is also closely watch by newly appointed Fed Chair, Janet Yellen.
Fast food chain McDonald’s reported a larger than expected decline in comparable global sales in February, once again hurt by slowing sales in the U.S. Reports from restaurants said worldwide sales for stores open at least 13 months fell by 0.3%, below the -0.1% expected. McDonald’s said that sluggish economic growth, internal missteps, rising record beef prices, along with higher labor costs, are the hurdles that are hurting sales.
The closely watched S&P 500 closed at another record high on Friday of 1,878.04, which is a long way from the close of 676.53 hit five years ago at the height of the Great Recession. The S&P has gained 177% since that day, which is the best 5-year performance since the June 1996 to June 2000 rise during the dot-com bubble.
Shares of Dow component Boeing are lower this morning after its 777-20 plane with 239 passengers and crew disappeared during a Malaysia Airlines flight to Beijing on March 8. There are no signs of debris or any traces of the plane. Flight MH370 took off on Saturday morning from Kuala Lumpur International Airport en route to Beijing and vanished into thin air.
Popular pizza chain Sbarro has filed for Chapter 11 bankruptcy protection, which is the second time in bankruptcy since 2011. Sbarro closed 155 stores in February , though it still has 800 locations in more than 40 countries. The chain opened in 1956 as an Italian grocery store, and serves more than 71 million pizzas every year.
The Labor Department reported this morning that employers added just 113,000 jobs in January, which was below the 175,000 expected, but up from the paltry 75,000 created in December. A freeze in hiring in the health care sector is one of the factors to the lower numbers. The Unemployment Rate fell to 6.6%, the lowest level since October 2008, but that can be due in part to people falling out of the work force than finding jobs.
Filling up at the pumps will begin to be more expensive as spring nears due to more drivers being on the road along with refineries shutting down for winter maintenance, which reduces supplies. The national average price for a regular gallon of gasoline is at $3.26. For 2014, AAA predicts that the nationwide average price will peak between $3.55 and $3.75 per gallon with the average price around $3.49.
The Census Bureau reports that the share of Americans who own their own homes was 65.2% in the fourth quarter of 2013, down from 65.4% in the previous quarter. Higher borrowing costs coupled with tight credit were the two factors behind the decline. The rate peaked at 69.2% in June of 2004.
Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors®
The Pending Home Sales Index,* a forward-looking indicator, increased 2.0 percent to 93.7 based on contracts signed in December from a downwardly revised 91.9 in November. The index is 4.2 percent below the 97.8 mark in December 2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, credits good affordability conditions and economic improvement. “Modest gains in the labor market and the improving economy are creating a more favorable backdrop for buyers, allowing them to take advantage of excellent housing affordability conditions. Mortgage rates should rise only modestly in the months ahead, so we’ll continue to see a favorable environment for buyers with good credit,” he said.
“In the past two years, home buyers have been very successful, with super-low loan default rates, partly because of stable home prices during that time. That trend is likely to continue in 2011 as long as there is sufficient demand to absorb inventory,” Yun said. “The latest pending sales gain suggests activity is very close to a sustainable, healthy volume of a mid-5 million total annual home sales. However, sales above 6 million, as occurred during the bubble years, is highly unlikely this year.”
The PHSI in the Northeast increased 1.8 percent to 73.9 in December but is 5.3 percent below December 2009. In the Midwest the index rose 8.0 percent in December to 84.6 but is 5.1 percent below a year ago. Pending home sales in the South jumped 11.5 percent to an index of 101.9 and are 1.7 percent above December 2009. In the West the index fell 13.2 percent to 105.8 and is 10.7 percent below a year ago.


text:
|Tuesday, 31 January 2012 12:34|
Who really pays when the prices go 'down, down!'?
The Riverina is the largest citrus growing region in Australia and Riverina Citrus Chairman, Frank Battistel has expressed concern about who will ultimately benefit from the announcement today that Coles will heavily discount fruit and vegetables.
“The question really is who will end up paying for these discounts in this latest price war?” Mr Battistel said. “Either Coles is charging its customers 50 percent too much for fresh fruit and vegies or these discounts will be cross subsidised by large margins on other products. Citrus growers are already having to sell our produce at record low prices there is no way we can reduce them further. Some of our growers are already selling at a loss – it’s a very hard time for our growers especially with the lack of export opportunities due to the high Australian dollar.
“Today’s announcement will be a huge concern for many, many small fruit and vegetable stores across the country that simply cannot compete with the devastating power of Australia’s two massive supermarket chains,” he said. “These big supermarkets should put more effort into supporting Australian farmers by offering fair prices and promoting 100% Australian produce over inferior imports rather than trying to beat each other up in the chase for profits.”
|Last Updated on Wednesday, 01 August 2012 19:05|

domain: news


text:
9 android apps listed on official Google Play Store have been putting millions of devices of on the verge of getting hacked. These apps have been downloaded about 470,000 times.
Cyber security company Trend Micro has unveiled in the latest research report that these 9 android apps are getting access to user’s Google and Facebook accounts and is able to alter the credentials.
Trend Micro reported in the research that these apps are a malware specialized for Android users and these malware apps are actively listed on Google Play Store.
This malware is hidden in the apps such as Super Clean or Speed Clean. In easy words, these apps act as a tool but indirectly gathering all your credentials to use or sell it further.
Here is the list of 9 Android Apps stealing your data
- H5 gamebox
- Speed Clean-Phone Booster,Junk Cleaner&App Manager
- Rocket Cleaner Lite
- Rocket Cleaner
- Quick Games-H5 Game Center
- Super Clean-Phone Booster,Junk Cleaner&CPU Cooler
- Super Clean Lite- Booster, Clean&CPU Cooler
- Shoot Clean-Junk Cleaner,Phone Booster,CPU Cooler
Instead of working as a tool, these apps download 3000 different versions of malware into your phone, which eventually attack your Facebook and Google account to conduct false advertising process.
These apps shows interstitial ads that comes from FAN (Facebook Audience Network) and Google Ads to gain clicks even if you’re not using application.
These apps are being downloaded by many people all around the world as most of the apps were not blocked by the security of Google Play Store.
These fake apps can also post fake ratings and comments to play store so they can attract others to download the apps.
Thankfully, these apps have been removed from the Google Play store but the people who still have these apps will continue to face the danger as long as they completely flash their android smartphones.
Most affected countries are;
- United States


text:
The merger between Fiat Chrysler Automobiles and PSA Group is reportedly progressing smoothly, with the involved parties announcing general meetings for their respective shareholders on Wednesday. Scheduled to take place on January 4th, the summit is being held “in order to approve the merger of their companies to allow the creation of Stellantis, which will become the world’s fourth largest automobile manufacturer by volume,” according to a joint release.
Frequently on the cutting edges of technology, the automotive industry has been slamming chips into vehicles to facilitate communications ever since General Motors launched OnStar back in 1996. This evolved into cars boasting reliable navigation systems and remote vehicle diagnostics until they literally started becoming mobile internet hot spots.
Now the industry wants to further ingrain connectivity by equipping all vehicles with 5G — opening the road for new features and the ability to harvest your personal data more effectively.
This has required deals with tech chip manufacturers like Qualcomm, which requires companies to sign a patent license agreement before actually selling any of its hardware or software. But regulators around the globe worried the practice may be monopolistic, violating antitrust laws. The Federal Trade Commission (FTC) brought a case against the business in 2017. Despite winning that case in 2019, a U.S. appeals court overturned the decision earlier this month, deciding Qualcomm could continue conducting business as usual. Now, tech companies (mainly Qualcomm rivals) and a gaggle of automakers are urging the FTC to seek an appeal following the loss.
While Europe appears infinitely suspicious of German automakers, it hasn’t been nearly as eager to cuff suspects and cart them off to the slammer. Considering how unappealing Japan’s treatment of a former Nissan employee happened to be with the general public (regardless of his guilt/innocence), that’s probably wise. Slow and sure is the ideal strategy for tackling corporate corruption — it just has the unfortunate consequence of dragging everything out.
In 2018, BMW, Daimler, and Volkswagen Group became the focus of an investigation aimed at uncovering illegal cooperation. Allegations going back to 2017 stipulated the three had coordinated on the rollout of clean emissions technology (specifically AdBlue); at the same time, Germany was under heavy scrutiny for the leeway it was giving automakers after VW’s diesel emission scandal. Before long, claims arose that Germany’s manufacturers had been effectively running an automotive cartel for decades, with supporting evidence slowly mounting.
Source: United States Department of Justice
Nine Japanese auto suppliers and two executives have agreed to plead guilty and pay more than $740 million in fines for participating in a price fixing conspiracy, the U.S. Department of Justice said yesterday. The two executives, one an American citizen, the other Japanese, will have to serve prison terms. According to the DoJ, thirty different components were involved and they were sold to all three domestic automakers as well as the U.S. operations of Honda, Mazda, Mitsubishi, Toyota and Fuji Heavy Industries, which owns the Subaru brand. The automakers have cooperated with the investigation. More than 25 million vehicles sold in the U.S. were affected by the conspiracy, raising costs to automakers and consumers alike, U.S. Attorney General Eric holder told a press conference in Washington yesterday.


text:
BREAKING THE MOLD: When President Ken Bertram, above left, and partners took over Cumberland’s Herrick & White Architectural Woodworkers in 2007, a single commercial customer accounted for much of the company’s business. But the Great Recession forced a change in strategy. Also pictured is moulder operator Steve Langis.
When Ken Bertram, president of Herrick & White Architectural Woodworkers, first heard that he was in contention for an entrepreneurial-excellence award from the U.S. Small Business Administration, it came as more than just a surprise.
Herrick & White wasn’t, after all, a new company. It had grown from a two-person operation in 1977 run out of a garage to a home in a 55,000-square-foot manufacturing facility that now employs more than 100 people.
“An entrepreneur? I didn’t see myself as that,” Bertram said.
But as he considered the history of the company since he and his two partners had taken over the firm in 2007, the near-complete re-envisioning of the company’s business did help him realize the 2014 entrepreneurial award the company received made sense.
In his first days at the company, a single commercial customer, the department store Talbots, had accounted for about 70 percent of the firm’s business.
But in the early days of his ownership came the stock market crash that caused Talbots to cut back an estimated 80-90 percent of its business.
Herrick & White weathered the first half of 2009 fairly well, propped up by a large, high-end residential project, but by the end of that year they were looking at cutting costs, cutting benefits, cutting pay and possibly cutting jobs.
But with the aid of some outside consultants, Bertram said, “we really started building the company back up again.”
“We basically rebranded ourselves as primarily a high-end residential firm,” he said. “It was a difficult transition.”
But by demonstrating the ability to do the high-quality cabinetmaking work that was the trademark of the company, Herrick & White has grown ever since, with sales poised to grow 60 percent even over last year.
One key to success is Herrick & White makes sure to follow through on its project commitments.
“All construction projects have issues and bumps,” Bertram said. “Some [companies] walk away when there are issues and bumps. We will not walk away.”
The ability to offer that kind of commitment comes from both tradition and the people that make up the company, Bertram said.


text:
The US Court of Appeals for the Federal Circuit affirmed a $290m patent infringement judgment against Microsoft, won by Toronto-based software company i4i in Texas. It alleges Microsoft’s software infringed on its patents that cover extensible markup language technology.
Microsoft must remove custom-XML editing from Word or face a permanent injunction barring the company from selling recent versions of the software, a federal appeals court on Tuesday ruled.
Microsoft has been given until January 11 to remove the custom XML functionality — five months from the original August 2009 ruling, according to Bloomberg.
With the failure of the appeal Microsoft must now pay i4i damages of $290m (£182m) and comply with an injunction ending the sales of some versions of Word.
Versions of the software sold before that date, including Word 2003 and Word 2007, will not be hit by the ruling.
Microsoft was accused by i4i of infringing on a 1998 XML patent in its Word 2003 and Word 2007 programs. Word uses XML, or the Extensible Markup Language, to open .XML, .DOCX, and .DOCM files. The initial ruling in the court dispute between i4i and Microsoft was made in August. At that time Microsoft was found to have infringed the i4i patent and the Canadian firm was awarded damages.


text:
Cadillac’s current line is ‘Dare Greatly’ and the General Motors lux brand is trying to appeal to the US’ coast-dwelling trendies rather than gun totin’ dentists in the Mid West, or wherever.
Accordingly it’s relocated Cadillac HQ to New York’s SoHo.
To launch its new XT5 ‘crossover’ it secured permission to fly the monster motor (4600lbs it seems) over Manhattan, the first time cargo has been carried over Manhattan in 15 years. And we all know what happened then. Daring greatly indeed.
Cadillac has teamed with modish menswear brand Public School for the launch, acknowledging it’s trying to appeal to fashionistas not petrol heads.
Has the world gone fashionista mad? Apple’s up to it now with rose-tinted new iPhone 6s.


text:
An ad for Boulder-based Misty Robotics turned up on the far-right news website Breitbart, prompting an activist group to call out the company on Twitter.
On Monday, the Twitter account of Sleeping Giants — a social media campaign to de-fund Breitbart — re-tweeted a screenshot of a Breitbart article, titled “Report: ‘Creepy’ Clintonista Cody Shearer Scouring Europe for Fabled Trump ‘Pee Pee’ Tape.” On the bottom was an ad for Misty Robotics’ personal robot prototype, announced last month. Misty is now accepting applications from programmers and developers vying to purchase the initial units.
A spokesperson for Misty, in an emailed statement, said the company was “surprised our ad came up” on Breitbart and that the service they were utilizing, Facebook Audience Network, “doesn’t allow you to view the network placements and puts your ads in places, like Breitbart, that you are unaware” of.
“(We) have now turned off Facebook Audience Network and our ads shouldn’t be showing,” said Jennifer Stephens Acree, a public relations specialist with California-based JSA Strategies. “We’re looking into ways to ensure this doesn’t happen again. This is not a Misty-specific issue but rather an ongoing (and unfortunately not new) problem with ad networks.”
Thousands of companies have been called out by Sleeping Giants, which began its campaign in November 2016. Its stated mission, supplied on its Facebook page, is to stop “racist, sexist, homophobic, xenophobic and anti-Semitic news sites by stopping their ad dollars.”
Read the full story at DailyCamera.com.


text:
China’s imports of whey products and lactose decline, and U.S. loses market share
Whey products and lactose are the top dairy products exported, by value, from the United States to China. China’s imports of whey products (dry whey, whey protein concentrate, whey protein isolate, and modified) and lactose have declined sharply in recent months. African Swine Flu (ASF)—a virus that has affected the country’s pig and hog population—may have affected the markets for these products because they can be fed to pigs and hogs. In addition to ASF, tariffs by China, in response to U.S. tariffs on certain imports from China, may have contributed to the decline in imports of whey products and lactose from the United States. The U.S. market share declined from 57 percent in 2017 to 51 percent in 2018 and to 38 percent for the first 5 months of 2019. The United States’ largest competitor in this market is the European Union. In the first 5 months of 2019, the European Union increased its market share to 42 percent, up from 36 percent in 2018 and 34 percent in 2017. This chart is drawn from discussions in the ERS Livestock, Dairy, and Poultry Outlook newsletter, released in July 2019.
Download higher resolution chart (2084 pixels by 1876, 300 dpi)


text:
By Ali Imran
ISLAMABAD: Annual inflation measured by the Consumer Price Index (CPI) was recorded at 24.5 per cent in December, compared to 23.8pc in the previous month, as food and transport costs continued to remain high, data shared by the Pakistan Bureau of Statistics (PBS) showed on Monday.
Inflation rose 0.5pc on a month-on-month basis, compared to a 0.76pc increase in November. To calculate headline inflation, which captures all the goods and services in an economy, the CPI tracks the prices of 356 items from urban areas and 244 items from rural areas. Topline Securities said that inflation remained in line with market expectations.
PBS data showed a double-digit increase in almost all indices, except housing and utilities, and communication. However, perishable food items and transport, which have been the main drivers of inflation over the past months, decreased 12.58pc and 0.81pc on a month-on-month basis.
Last week, the finance ministry’s forecast said inflation would stay high — between 21-23pc during the current fiscal year.
“For FY23, economic growth is likely to remain below the budgeted target due to devastation caused by floods. This combination of low growth, high inflation and low levels of official foreign exchange reserves are the key challenges for policymakers,” the ministry said in its Monthly Economic Update and Outlook.
Pakistan has been in the grips of decades-high inflation in the past few months but the CPI hike slowed down in September to 23.2pc from a 49-year high of 27.2pc in August.
The trend reversed the very next month when headline inflation rose sharply to 26.6pc in October, prompting the central bank to raise the key policy rate by 100 basis points to a 24-year high of 16pc in a decision it said was “aimed at ensuring that elevated inflation does not become entrenched”.


text:
xy - Fotolia
Keith Townsend, writing for The CTO Advisor, said he loves the architectural concept of hyper-converged infrastructure. But while Townsend said he admires Hewlett Packard Enterprise's hyper-converged infrastructure, he is not convinced it will be a stand-alone product category. Townsend said he believes HPE has struggled to build a "robust" hyper-converged infrastructure offering, but the purchase of SimpliVity may have put the vendor back in the running.
Townsend also speculated about the long-term potential of category-leader Nutanix within a data center and its cloud strategy, which remains unclear. "Leveraging an all-Nutanix infrastructure for private cloud, enterprise engineers turn their focus to customer-facing data center bits, such as Kubernetes. The question, is there enough of the market that buys into Nutanix' vision versus a Dell EMC, HPE or Cisco infrastructure vision?" Townsend said.
He noted that at the time of HPE's purchase of SimpliVity, Nutanix's stock price fell 3.5%. "HPE only paid $650 million for SimpliVity. The price was much lower than the rumored $2 billion just a few months ago. I believe it's a reflection of the lack of height to the barrier of entry into HCI," Townsend added.
Explore more of Townsend's thoughts on HCI consolidation.
Is Cumulus Networks thinking of reaggregating?
Cumulus Networks Inc. recently announced Cumulus Express -- switch hardware with the Cumulus Linux network operating system preinstalled -- in a break with its pattern of installing the software on white box switches. "Why would the startup take a step toward reaggregation?" asked Drew Conry-Murray, blogging on Packet Pushers.
Conry-Murray looked to an interview with Cumulus CEO Josh Leslie for answers. According to Leslie, disaggregation offers downstream benefits at scale, but by preloading the software, Cumulus may be better able to help its customers manage their software stacks using Linux-based tools.
Even though Cumulus is primarily a software company, as part of its foray into hardware, it will offer hardware support for the Express product line. The new offering relies on hardware from EdgeCore, with port speeds ranging between 1 Gbps and 100 Gbps. Conry-Murray said he suspects customer demand will drive any hardware partnerships for Cumulus, amidst speculation that Cumulus might partner with Barefoot Networks to offer network OS support for the new Tofino programmable switch.
Dig deeper into the Cumulus announcement with Conry-Murray.
Too many organizations accept 'good enough' cybersecurity
Jon Oltsik, an analyst with Enterprise Strategy Group Inc., in Milford, Mass., discussed a 2016 study conducted by Information Systems Security Association (ISSA) and ESG, which examined the range of cybersecurity incidents faced by companies.
Among the findings, the survey indicated 39% of organizations experienced one or more incidents that led to reimagining their servers or endpoints, while 27% experienced one or more incidents of ransomware. Up to 20% of respondents said their companies had incidents that disrupted business applications.
"Why are so many organizations experiencing so many security incidents? Lots of reasons, including apathy, money and the cybersecurity skills shortage," Oltsik said. The survey gave credence to this information, with 31% of cybersecurity professionals saying their departments were understaffed and 20% citing lack of funding.
"It's 2017, and cybersecurity issues are a major international issue. Despite this reality, many organizations continue to maintain the same 'good enough' security attitude of the past. These organizations have no one else to blame when they are inevitably breached, but unfortunately, we the people must deal with the consequences of their irresponsible actions. If this isn't a reason for changes in public cybersecurity policies, nothing is," he concluded.
Read more of Oltsik's thoughts on "good enough" cybersecurity.
Exploring hyper-converged vs. converged
Secret Service audit reveals poor cybersecurity
Cumulus focuses on bare-metal switching


text:
SAP, the world leader in ERP solutions has announced that it will be acquiring Gigya in a bid to strengthen its hybris e-commerce division. The German software giant is buying Gigya firm that helps online properties manage customer identities and profiles in a reportedly $350 million deal, although the terms of the deal are yet to be officially disclosed. The same figure was reported when the news leaked out as a rumor in the Israeli press, where the company’s R&D is located.
“Gigya brings a wealth of skills and expertise that will significantly enhance the SAP® Hybris® Profile solution and allow us to take leadership of the emerging customer identity and access management market,” said Carsten Thomas, president and cofounder of SAP Hybris. “Consumer trust is the main currency to succeed for customer-driven organizations. This is what Gigya is known and recognized for.”
Gigya is an identity management firm that manages some 1.3 billion customer identities across hundreds of sites, existing business that it will bring under SAP’s umbrella. The basic idea here is that by integrating those features into SAP’s wider e-commerce operation, it can expand the kind of services it offers to existing customers, and to help sell more e-commerce services to Gigya’s base.
“Combining the data matching and enrichment capabilities of SAP Hybris Profile with Gigya’s consent-based identity data and access management platform will allow us to identify consumers across channels and offer a robust single consumer profile,” said Patrick Salyer, CEO of Gigya. “This is a vital step for digitalizing businesses because companies need to be able to draw accurate conclusions seamlessly across all channels, including web, mobile, in-store or connected devices, and the Internet of Things, as well as collect data about consumer preferences. Together we are well positioned to drive more effective marketing, sales and service through data, while the customer stays in control of how much data is shared.”


text:
British Gas has launched a UK advertising campaign to trumpet its green credentials and position itself has having the lowest carbon emissions of any major energy supplier in the UK, Marketing Week reports. The campaign comes just as npower kicks of a green energy tie-up with the National Trust to promote its green product offering.
The campaign will run until the end of the month and features the tagline “Our electricity has the lowest CO2 emissions of any major supplier.”
The campaign will promote its recently launched Zero Carbon tariff. In April, the company launched a new business that will offer green, low carbon products and services.


text:
HBAM Teams Up With PermitsNow
January 19, 2001
ROCKVILLE, MD — PermitsNOW Inc. and the Home Builders Association of Maryland (HBAM) have made an alliance that will make PermitsNOW’s online permitting service available directly to the members of HBAM, which include approximately 1,200 home building and home remodeling companies in Maryland.
“HBAM is dedicated to helping its member base grow and succeed by serving as a channel for important business tools like the PermitsNOW e-permitting service,” said HBMA president Kevin Carney.
Publication date: 01/22/2001


text:
BOULDER, COLO. — Bars and snacks maker Bobo’s announced it is investing $10 million in a new facility in Loveland, Colo. As part of the investment, Bobo’s will consolidate its two bakeries (in Boulder and Loveland) and one warehouse (in Loveland) into one building, a move the company said will add 100,000 square feet of production space, allowing it to triple capacity to meet growing demand.
Bobo’s said it has experienced 36% compound annual growth rate since 2016, and in 2021 that figure is expected to grow to 40%.
As Bobo’s continues to expand, the company said it plans to prioritize sustainability objectives. By consolidating its current facilities, the brand is cutting down the amount of driving needed for materials and employees between facilities throughout the day, which is better for both its people and the planet, Bobo’s said.
“Bobo’s has seen exceptional growth over the last 18 months,” said TJ McIntyre, chief executive officer of Bobo’s. “During the pandemic the bar category was hit particularly hard, but through the homemade quality of our products we were able to bring our consumers deep comfort in what was an otherwise challenging time. This 125,000-square-foot bakery build puts us in a great position to continue producing the delicious products our consumers love and will allow us to grow to over $100 million in revenue over the next few years.”
Bobo’s said it plans to celebrate the opening of the new facility in the second quarter of 2022.Founded in 2003, Bobo’s offers bars as well as oat bites, nut-butter-filled bars, toaster pastries, stuff’d bites and nut butter protein bars. The company’s products are gluten-free, kosher and non-GMO certified.


text:
Johnson & Johnson says its McNeil Healthcare division's recall of over 40 infant and children's OTC medicines will hurt its sales, and thus its second-quarter bottom line. The company announced the recall of cold and allergy meds for kids last week because the products "do not meet quality standards," per the company.
The voluntary recall includes everything from infant and children versions of Tylenol and Motrin to children's formulations of Zyrtec and Benadryl. The company says it expects the recall to impinge on second-quarter earnings because of lower sales. The company says the sales shortfall will be due entirely to the self-imposed force majeure of the recall, rather than a consumer exodus.
Robert Passikoff, president of New York-based market research firm Brand Keys, agrees. He says that the only pain Johnson & Johnson feels will be from the volume constraints from the recall. He says Tylenol's proactive recall is burnished by the-barn-door-after-the-horse-has-escaped events like BP's deepwater disaster, and the revelations around Toyota's quality-denting problems.
"Not all recalls are equal, and in this case, McNeil was proactive, instituting the recall before anyone got hurt," he says. "And the very fact that they are doing it is likely to generate a 'yes, they are the brand that is doing the right thing at the right time' response." When the company announced the voluntary recall, it made a point of saying that there was little possibility of the products causing any harm or untoward side effects to people using them. "This recall is not being undertaken on the basis of adverse medical events."
"However, as a precautionary measure, parents and caregivers should not administer these products to their children," the company said, in a statement. The company said some of the products included in the recall: "May contain a higher concentration of active ingredient than is specified; others may contain inactive ingredients that may not meet internal testing requirements; and others may contain tiny particles."
Passikoff says that customer loyalty will also work in McNeil's favor. "They have always had an extraordinarily high level of brand loyalty, particularly with the kids' stuff," he says, adding that loyal customers are six times more likely to give a brand the benefit of the doubt in uncertain circumstances.
McNeil has had several recalls related to packaging this year, such as one for children's and infant's Tylenol, Motrin, and Zyrtec because of a label-printing error and for bottle defects. In January, the company instituted a recall for Tylenol because of the presence of trace amounts of a foreign chemical causing symptoms of gastroenteritis.


text:
May 31, 2007 -- Spencer Technologies, a provider of network design, infrastructure installation, and technology deployment services for retail locations, announced that it has hired 135 new employees as demand for its services continues to grow.
According to a press release, having been awarded several large contracts this year -- including multi-million dollar projects for Macy's, Gap Inc., Limited Brands, and Rite Aid -- the Massachusetts-based Spencer Technologies has strategically added 100 field technicians, 15 supervisors and engineers, and 10 project managers.
"It is our dedicated and consistent service that sets us apart. Spencer prides itself on performing most of our clients' work with a Spencer employed Technician. We prefer not to subcontract our work. This allows us to accomplish smooth installations, with quality control and personal service," comments David Strickler, president and CEO of Spencer Technologies. "From site survey through deployment, our customers will work closely with a specified team."
This year, the company says it is forecasting a 43% increase in sales over 2006, requiring expertise ranging from wireless access to voice over IP-enabled systems.
Strickler continues, "The installation of technology infrastructures is critical to retail locations. It demands expert integration and cohesive project management to develop reliable systems. Putting the proper resources in place on our end will ensure that this is a seamless process for our customers resulting in successful business-critical systems."


text:
By Miriam Gottfried
Investors have long thought of Qualcomm’s (QCOM) chip business as heavily reliant on Samsung and LG, but recent design wins are rapidly diversifying the company’s customer base, according to a report by Morgan Keegan.
Qualcomm shares were relatively weak yesterday due in part to Micrel’s (MCRL) pre-announcement, which hinted at a major Korean original equipment manufacturer canceling orders.
But Morgan Keegan estimates that less than one-third of Qualcomm’s MSM chipsets were sold into smartphones, nearly 50% into CDMA feature phones, and about 20% into UMTS feature phones.
“By fourth-quarter 2011, with design wins at Apple (AAPL), various tablet vendors, RIM (RIMM), and Sony Ericsson (SNE), we estimate that total smartphone/tablet MSM shipments will more than double to over 70 million,” wrote analyst Tavis McCourt. “This does not even include any Nokia Windows Phone builds, which should start soon thereafter.”
McCourt cautions that these numbers are simply estimates, but he says, it’s safe to say that Qualcomm is less exposed to feature phones in the developed world than it once was.
Qualcomm shares are up 0.8% at $52.65 in early trading.


text:
As the world grapples with the outbreak of coronavirus (COVID-19) in our increasingly interconnected world, what happens in China’s economy impacts the world at large and Africa in particular. But what does this mean for the future of the Africa-China relationship? CNBC Africa’s Arnold Kwizera spoke to Co-Founder of the China Africa Project, Eric Olander for more.
By Kennedy Mubita, Africa Head, SC Ventures. Imagine a bank whose customers can tap on a wearable device to...
By Kariuki Ngari, CEO & Managing Director, Standard Chartered, Kenya & East Africa COVID-19 has upended the social and...
Acknowledged as the world’s largest Africa-focused digital infrastructure and emerging tech event, the Africa Tech Festival has always attracted a stellar line-up of critical thinkers, analysts, futurists, keynote and inspirational speakers. 2020 will more than deliver on that reputation, with a stimulating array of visionary industry presenters, raconteurs and even some sporting greats.
Sign up for free newsletters and get more CNBC AFRICA delivered to your inbox


text:
Investment in growing Africa's clothing sector is being stunted as consumers cut spending on the back of rising inflation and concerns of a looming recession.
The US and Europe, two primary export markets for Africa, are seeing their consumers reduce spending as inflation and recession concerns grow, hampering a rebound for the textile and clothing sector following the Covid-19 pandemic.
The region experienced strong export growth in the first three-quarters of 2022 after a tightening of retail demand in Europe and the United States on the back of the Covid-19 pandemic. But progress appears to be halting as once again spending slows on weakening consumer confidence.
For clothing and textile producers in Africa, it is impacting investment to bolster capacity despite growing interest by international brands in diversifying sourcing away from Asia and China especially. In sub-Saharan Africa, investment decisions may hinge especially on whether the US’ African Growth and Opportunity Act (AGOA) trade preference programme, which allows duty-free access to the US market, is renewed in 2025, after upcoming presidential elections in 2024, when protectionism may be on the ballot.
For the time being, says Paul Ryberg, president of the African Coalition for Trade in Washington DC: “It is pretty much business as usual across the continent. Trade flows [in Africa] over the last six months have seen 25% growth month-on-month but a worldwide recession may have an impact.”
Currency shifts are another wild card, with clothing manufacturers from Africa currently contending with weak currencies especially versus the US dollar, but also to some extent the Euro. Also, rising inflation across most of the continent has been impacting input costs alongside weak domestic currencies, says Navdeep Sodhi, a partner at the Switzerland-based Gherzi Textil Organisation. The continent predominantly imports textiles, yarns and dyes – 80% of African cotton is exported, he notes.
As for the general trends, clothing manufacturers in North Africa, particularly in Morocco and Tunisia, have had strong demand this year from European buyers, but this may not last: “The order books are quite full now but might not be for next year. It doesn’t look that good in the medium term as the mood in Europe, as in the US, is a bit bleak,” says Matthias Knappe, senior officer and programme manager for cotton, textiles and clothing at the International Trade Centre, speaking at garment and textile exhibition, Destination Africa.
Buyer hesitation to grow orders from Africa
There has been growing interest from European retailers and brands to near-shore production to Tunisia and Morocco especially. “There is some counterbalancing going on, with interest from European countries to better understand north Africa. We had a business-to-business mission from Tunisia to Spain recently and 50 [Spanish] brands and retailers were very interested,” says Knappe. The result has been: “About 18 European brands visited Tunisia in November, where they had never sourced from before, so there is interest in the region,” he adds.
Given the expectation of a slowdown in US and European consumer demand, north African clothing companies are however hesitant to expand capacity in the short run to meet potential demand from new customers, he says: “Some of the larger companies have told us that as their order books are full right now, if they do promotional activities [to get new orders] they can’t commit [additional] capacity right now,” says Knappe.
Egypt is in a similar position to its northern African neighbours, with 2022 having started well.
“Demand was up, but the situation started to change due to the impact of the invasion of Ukraine, and fears of recession from the middle of the year onwards,” says Samer Riad, general manager of the Riad Group, a vertically integrated textile and apparel producer in Cairo.
There had been growing interest in sourcing from Egypt as retailers diversify. “There has been more near-shoring [in orders], with the idea of not being dependent on one sourcing country in east Asia manifesting itself in Europe. This works in our favour, but it will be more long-term. There is not great will [by Egyptian companies] to invest in expanding capacity in the current [economic] environment,” says Riad.
West Africa is also emerging as a hub, with the Dubai, United Arab Emirates (UAE)-based Arise Group investing in industrial parks in Togo and Benin to utilise the region’s cotton, low energy and labour costs, as well as the relative proximity to Europe and west Africa’s populous local markets.
“Aside from flagship investors like Arise, we are seeing activity in Ghana
and potentially the Ivory Coast [Côte d’Ivoire]. The two advantages are
regional cotton sourcing, with West Africa producing two-thirds of African
cotton, and logistics, with distances shorter to Europe and with port access,
which is an edge over Ethiopia,” says Sodhi.
Ethiopia, which had been one of the continent’s rising garment manufacturers, is still reeling from a two-year civil war over 2020–2022, which has potentially ended with a recent peace deal, and its removal (along with Mali and Guinea) from the AGOA trade preference programme by the White House in January (2022).
AGOA withdrawal impact on Africa clothing sector
After Kenya, Ethiopia was the second largest garment exporter under AGOA until its suspension. Madagascar has now taken the second spot, “but not due to a drop in Ethiopian exports, but growth in its own sector,” says Ryberg.
Trade figures have not yet shown a drop in Ethiopian exports, but there is no data on the number of factories that have stopped production, adds Ryberg. Ethiopia’s exports may have continued due to it being a low-cost producer, with manufacturers able to absorb paying duty in the United States. “We will see in a month or two whether the suspension is reflected in trade data,” he says.
There is the expectation that production has been hard hit, however. US fashion giant PVH, which had been central in bolstering Ethiopia’s garment manufacturing when it entered the east African country in 2016, closed its manufacturing factory in the Hawassa Industrial Park in November 2021 due to the conflict.
Some manufacturers have had factories destroyed: “My factory in the Tigray region was burned down,” says Kumara Kahadugoda, managing director, of True North Fashion, a Lesotho-based manufacturer and apparel sourcing company. He does not intend to re-invest.
Other companies however are committed to expanding activities in the country, with South Korea’s Shints, a garment manufacturer, telling Just Style that sales were up 30% this year and that it intends to increase the number of employees from 5,700 to 45,000–50,000 by 2027.
With a peace treaty signed in November between the Ethiopian government and the Tigray People’s Liberation Front (TPLF), there is an expectation, says Ryberg, that Ethiopia may be reinstated in AGOA at the US–Africa Leaders Summit, in Washington DC, in December.
But even if Ethiopia is re-admitted to AGOA, it will take time for its clothing and textile manufacturing sector to rebound. Knappe recalls comments from an Asian company that it would take up to a year for its mothballed Ethiopia factory to get back in operation. A decision on reopening might be taken only once the future of AGOA is known, he says.
Moreover, the whole AGOA treaty is up for renewal in 2025, and with US
politics in flux, “There is some nervousness about placing major new product
lines in Africa with only two and three-quarters years left of the Act,” says
By Just Style


text:
MSTC rose 5.46% to Rs 364.30 on bargain hunting after a recent steep loss.Shares of MSTC tumbled 7.51% in the past four sessions.
The stock hit a record high of Rs 542 on 19 October 2021. It hit a 52-week low of Rs 143.15 on 22 December 2020.
In the past one month, the stock has declined 19.89% as against 3.37% fall in the Sensex. It has jumped 143.10% in the past one year compared with 32% surge in the Sensex.
On a consolidated basis, net profit of MSTC declined 1.60% to Rs 28.30 crore on 8.72% rise in net sales to Rs 227.71 crore in Q2 September 2021 over Q2 September 2020.
MSTC is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India. It is one of the leading PSU entity engaged in providing e-commerce related services across diversified industry segment offering e-auction/e-sale, e-procurement services and development of customized software/solutions.
The Government of India has 64.75% share holding in MSTC.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.


text:
Today’s home buyers are market savvy, and Internet smart
Cincinnati (PRWEB) December 17, 2009
Today’s home buyers are using the Internet to preview homes, reports the National Association of Realtors. According to a recent study, 90% of buyers looked online at prospective properties with many beginning the home buying process online before contacting an agent. This change in the market is causing an increase in the use of Design To Market's home staging services as sellers realize the need to meet the expectations of today's competitive market.
“Today’s home buyers are market savvy, and Internet smart,” says Jo Potvin, owner of the Greater Cincinnati home staging company, Design to Market. “We know that first impressions sell homes. The key to a quick sale is putting your home’s best foot forward every time—in person and online. You may only have one chance to motivate a potential buyer to leave their computer screen,” says Potvin.
Since online first impressions rely completely on visual punch, Design To Market offers professional photographs after staging for agents to upload to the home’s real estate listing. Pictures are featured that engage the buyer, highlight the home’s features, and add a competitive advantage over their un-staged competitors.
As home sellers increasingly embrace the Internet as a platform for their listing, professional home staging has surged in popularity. “We stage homes at all price points,” says Potvin. "Our warehouse of furnishings and home accessories allow us the flexibility to fill a large vacant property or augment a cozy starter home with just the right touches.”
With continued low mortgage rates and the extension of the homebuyer tax credit, houses are selling at a healthy rate in the Greater Cincinnati market. Home staging not only brings in potential buyers who are making quick decisions by scrolling through multiple properties online but also shows the home to its best advantage once a buyer walks in the door.
Since 2004 Design to Market LLC has offered a complete range of home staging services in Cincinnati and Northern Kentucky. In today’s competitive real estate market sellers are looking for ways to make their homes stand out from other available properties. Design To Market creates first impressions that sell homes. For more information or to view before and after pictures showing the results of recent home staging projects, visit http://www.designtomarketllc.com or contact Jo Potvin: (513) 265-0952.


text:
A few Android senior citizens have found themselves wander onto HTCDev’s list of officially supported devices. The HTC Hero, Legend, Droid Eris, MyTouch 3G and MyTouch 4G are the oldest, er– newest devices ripe for the unlocking using HTC’s handy dandy bootloader unlocking tool. Nice to see HTC throw a couple of oldies in there but this ultimately begs the question: are any of our readers actually still using any one of these devices? I’ve always had a soft spot for the HTC Legend. I’ve oft fantasized of a Legend 2 with the same stylings as the original, only thinner, and with a bigger screen and better processor.
stars Popular this Weeklaunch
more_vertGalaxy S8 leaks show multiple angles
In case you haven’t gotten enough of the Galaxy S8, here’s another set of photos to get you excited for next week’s unveiling.
A new series of images show off various interface aspects of the Samsung Galaxy S8 Plus. The images also show a brief size comparison to the LG V20.
Roland Quandt of WinFuture was able to get his hands on an array of new press images of the Galaxy S8 and S8 Plus, while also sharing details we have yet to see leaked.
A series of new actions have been added to Google Assistant, making it easy to do things such as control your Roomba or keep track of expiration dates for your food.
more_vertQualcomm blocked Samsung
The Exynos chips have been made exclusively for Samsung phones, but apparently, Samsung tried to sell them to other manufacturers. A new report claims Qualcomm prevented that from happening.
Fossil-owned fashion brand Michael Kors has announced 2 new Access smartwatches for launch this year. They’ll be donning Android Wear 2.0 and have some significant improvements.
Google has introduced a new “Free App of the Week” section on the Play Store, which takes a paid app or game and offers it for free for a whole week.
A number of high quality images have leaked showing official Galaxy S8 accessories. Check out the post for a look at Samsung’s DeX Station and a handful of different cases Samsung will be offering, but they wont come cheap.


text:
House Majority Leader Ray Rodrigues (R-Estero) may have a little bit of extra sunshine in his life as House bill 1351 continues to make it way through the 2017 Legislative Session.
“We took a big step toward passing solar legislation in the House Commerce Committee that will protect Floridians and enact the will of the voters of Amendment 4,” Rodrigues said. “House Bill 1351 is largely supported by the solar industry and will allow for proper consumer protections as well as tax exemptions to take place.”
With more than 70% of Florida voters in support of Amendment 4 last August, lawmakers are now working toward implementing the amendment into Florida law. The proposed bill gives homeowners and businesses tax relief for installing solar equipment, like panels. The amendment exempts renewable-energy systems from the tangible personal property tax and ad valorem real estate taxes.
Even with a huge number of Florida voters in favor of the bill, there are some groups advocating for caution as the amendment turns into law after citing some issues other states have had as solar and renewable energy tax breaks were implemented.
Rodrigues, aware of the issues with other states, refers to Arizona specifically and how the process worked there. He says Arizona uses measures to protect consumer protection and now have a successful solar industry. Florida lawmakers had the chance to hear from Bob Stump, a former commissioner on the Arizona Corporation Commission, about what Arizona faced and how they fixed it to protect their citizens while offering renewal energy options.
“The charges were that these things would diminish solar in Arizona, but according to Mr. Stump, solar actually went up 8 percent after they instituted these provisions. Our provisions, according to the solar industry, are less onerous than the ones in Arizona, so I think clearly our state is positioned to enjoy a very robust growth in solar,” Rodrigues said.
Rodrigues explains the protective aspects of the bill stops energy efficient equipment vendors from using high-pressure sales tactics against home or business owners to purchase solar products unnecessarily or from making promises about the cost savings after installing the equipment.
The solar industry is supporting the bill.
“The Solar Energy Industries Association (SEIA) applauds the initiative of House Majority Leader Ray Rodrigues on House Bill 1351, which protects Floridians by providing them with the critical information they need to make smart decisions when considering solar,” said Tom Kimbis, executive vice president of SEIA.
A measure to implement Amendment 4, SB 90, is also being debated by the Senate.
Americans for Limited Government Foundation released a report entitled “Shedding Light on Solar Electricity.” The report covers a number of problems that the solar industry has been causing its customers. It also makes a number of recommendations to state legislators about how to protect consumers and improve transparency in the solar industry.


text:
Stockholm-based Anyfin, a fintech app that empowers people to understand and improve their finances, announced that it has raised €30M in a Series C round of funding. With this, the scale-up has now raised nearly €106M in debt and equity rounds.
The round was led by existing investor Northzone, alongside Accel, EQT Ventures, FinTech Collective, Quadrille Capital and Augmentum FinTech. New investor Citi Ventures also participated in the round.
Jeppe Zink, Partner at Northzone and Board member at Anyfin, says, “Overpayment for consumer financial services, fuelled by the opaqueness of the existing financial service industry, is perhaps the most valuable pain point which fintech can solve. Anyfin is addressing this head-on with its re-finance proposition. Customers love their service, making it a leader in the financial wellness category.”
An app that helps improve your finances
Launched in 2017 by Mikael Hussain, Sven Perkmann and Filip Polhem, Anyfin offers financial services, including simplifying the process of refinancing debt, and helping users access fair interest rates on their existing credit. The founders of the company have two decades of experience at tech giants like Klarna, Spotify, and iZettle.
Anyfin’s platform helps consumers to refinance existing instalments, credit cards, and personal loans, based on their actual risk profiles. Currently, it operates in Sweden, Norway, Finland, and Germany.
Since the fintech’s launch in Germany in March 2021, it claims to have witnessed a 15 per cent average monthly growth rate and 5X growth in 2022. The company’s mobile app has been downloaded more than 1M times, with more than 500,000 downloads in 2022.
The company mentions in a statement that it has already saved its customers a combined €68M, lowering the average user’s loan costs by 50 per cent.
Anyfin says it will use the funds to accelerate expansion across Europe. The capital will help the scale-up to further strengthen its product suite in existing markets across Europe, and accelerate the development of new technology to help consumers save money and improve their financial wellbeing.
CEO and co-founder Mikael Hussain, says, “With the current cost of living crisis putting increasing pressure on household finances, what we do is more valuable than ever for consumers, and this new capital will enable us to continue improving the scope and scale of our offering. The investment demonstrates that the financial industry is due for a significant realignment, in which consumers’ financial wellbeing comes first; we are very proud that both new and existing investors alike see us as a major player in European fintech.”


text:
FTC Commissioner Julie Brill, photo by Tony Powell
Amid a growing list of high-profile data breaches in the United States and increasing concern by consumers over a lack of privacy, Congress will reconvene this month having not yet passed a major cybersecurity bill. The lack of overarching regulations has left many organizations with little help to define their cybersecurity strategies, and has required considerable efforts from industry-specific regulators.
As a direct result, the Federal Trade Commission (FTC) has been making an aggressive push to expand its authority and put pressure on companies that handle consumer data to bolster their defenses.
FTC Commissioner Julie Brill, who has emerged as a key player in national and international regulations, recently spoke with InsideCounsel about the FTC’s stance on data security, privacy and how today’s increasingly connected world puts both businesses and consumers at risk.
Disruptive trends in data security
Businesses today face a myriad of issues related to the confluence of data security and privacy, but there are three specific trends Brill sees when it comes to shaping the privacy agenda for companies. They are: the so-called Internet of Things, third-party data brokers and information pertaining to financial or other sensitive subjects changing the way business is conducted, and as a result, accelerating concerns about data protection.
“Some of them involve sensitive data, home life and where we are moving on a moment-to-moment basis with location-based information,” Brill explains. “My primary concern is data security; 90 percent of connected devices collect personal information and 70 percent are not encrypting that data. It’s a big concern. Businesses need to be aware this is happening, if they are part of this ecosystem and active in one or more of these areas in the ecosystem.”
In the Internet of Things, appliances, medical devices, wearable technologies and even vehicles are networked, collecting information about users that could help to predict preferences or product needs. While the Internet of Things presents potentially exciting opportunities for customers/end users, businesses are held to a greater accountability level to ensure they are properly protecting consumer data and other sensitive information.
Just as impactful on information policy, are data brokers, key players in a multi-billion dollar industry that collects, analyzes and sells the personal information of millions of Americans. They need to be closely watched regarding how they are using that data and whether they are providing enough transparency.
Rounding out the disruptive trends in the space is the collection of sensitive information.
The impact of this will vary considerably depending on industry, however, security measures concerning health and financial information have received considerable focus by regulatory bodies, which will likely impact the way other types of sensitive information will be controlled as well.
“The ways in which health information is flowing now throughout our digital lives are much broader than what was captured in laws adopted a couple of decades ago (such as HIPAA.) If you are online and searching for information about a disease, or on an app, your information is not necessarily protected by HIPAA,” explains Brill. “The question is: are we appropriately protecting all of this health information, including the information generated through these new technologies? Companies need to more attuned to this issue if they are collecting or using health information generated in these new ways.”
As stated earlier, the volume of sensitive information varies by industry, as does the reliance on data brokers and the proximity to connected devices. That being said, one prevailing thread among all three trends is Big Data, the increasing predilection to collect large volumes of information for predictive analysis.
“We need to think about how to structure a framework for companies to determine whether their Big Data projects are appropriate. In addition, we need to think about collection too: how much data is being collected and whether that specific data is needed. Unbounded data collection can lead to data security problems if the data is not appropriately de-identified,” Brill points out. “The other thing we need to think about in the context of a framework focused on data use: who will participate in the decisions about appropriate and inappropriate uses?”
In the past couple of years, the FTC has embarked on a number of initiatives to lead the charge toward more stringent privacy and data security standards, expanding its authorities under Section 5 of the Federal Trade Commission Act, which prohibits unfair and deceptive acts or practices against consumers. Last year, the FTC brought 53 data security enforcement cases and over 40 privacy cases that addressed personal information.
There has also been a surge of activity focused on developing policy, and businesses and consumers alike have a lot to say when it comes to privacy protection. The FTC regularly holds public workshops on emerging issues to generate public discussion and develop best practices to help businesses steer clear of anything close to inappropriate activity. The Commission has also taken a proactive approach to educating businesses on their responsibilities under different laws; the agency has also taken a consumer-facing tack toward education to help end users make wiser choices and be aware of the potential risks of sharing their information.
There are five core components that make up effective data security practices, according to the FTC, which Brill broke down as follows:
“One, conduct risk assessments of the data your company has and what could happen if the company were to suffer a breach; two, minimize personal information about consumers, de-identify as much as possible and don’t pass the information along to companies that will try to re-identify; three, implement technical safeguards, such as encrypting personal information as appropriate, and also protect the physical systems that store personal information; four, train employees to handle personal information properly; and five, put a breach response plan in place so if the company does suffer a breach, there is a plan for how to deal with it.”
These points provide a basis for how to effectively operate within the FTC matrix of regulations. Brill says that adherence to these practices can protect companies even when they’ve been the victim of a data breach.
“When we are doing an investigation, we are often looking at whether a company has failed to maintain reasonable security such that they cross the line of an ‘unfair practice’ under Section 5 of the Federal Trade Commission Act. But just because a company suffers a security breach doesn’t meant they failed to maintain reasonable security and doesn’t mean they broke the law,” Brill says.
While there is no silver bullet to ensure businesses will avoid a data breach altogether, the C-suite and the board have a mandate to create and maintain measures designed to protect operational data as well as sensitive information concerning employees and customers.
“The most important thing for a company to do is to begin viewing privacy and personal data as risks to a company’s reputation as well as its financial well-being. More and more companies are taking this view,” says Brill. “The flipside of looking at these privacy and data security issues as both reputational and financial risk is focusinig on engendering consumers’ trust. Engaging in these conversations in the C-suite is one of the ways GCs can bring these issues and perspectives up to the top and then get this message to spread throughout their companies.”
Aside from the various enforcement trends and policies general counsel need to be thinking about, the C-suite as well as the board of directors are charged with ensuring that basic consumer protection principles apply to new technologies. For companies that are currently developing plans to integrate data privacy and compliance, Brill recommends thinking of privacy as a compliance matter and to proactively consider the risks involved. This includes thinking about privacy issues during the development phases of new products and services, rather than after the fact.
“This will raise the profile of these issues if you are thinking in those terms. One of the things we are asking companies to do is to think about privacy by design. That is, don’t wait until you have a problem, but instead, incorporate privacy at every stage of development. Think about it from the beginning, not just at the end.”
With their ability to enact steep fines and penalties, it’s easy to view relationships with regulators in an adversarial way. However, the FTC’s interests in protecting the private data of consumers is one that many organizations are adopting in light of the serious ramifications a data breach can present. Being proactive in reaching out to the FTC in the event of a serious breach could potentially mitigate these issues, and make for a more trusting and open relationship with regulators.
“Reputational and financial risks for data breaches are real and significant. That’s why senior level executives need to pay attention to data security.” Brill says. “The five-point plan I outlined is critical, especially with respect to the last point. It is good to be proactive, reach out to the FTC or, if appropriate, the FBI. These agencies employ people expertly trained and highly qualified to help handle these problems.”
Meet Julie Brill at the 15th annual SuperConference, May 11-13 in Chicago. For more information on the event or to register, click here.


text:
Trico Products Corp. has added nine new part numbers to the TRICO Exact Fit wiper blade line.
TRICO now offers five new rear integral blades under part numbers 8-A, 10-A, 12-K, 12-L and 12-M. The new part numbers fit popular 2006-‘17 year models of Ford, Hyundai, Kia, Lexus, Saab, Scion and Toyota vehicles. The company also has introduced four new Exact Fit beam wiper blades. The new part numbers include 16-17B, 20-17B, 26-17B and 28-17B and fit popular 2015-’17 year models of Land Rover, Lexus, Subaru and Toyota vehicles, which are equipped with the new Push Button FZ wiper arm.
Trico says these recent additions to the Exact Fit wiper blade line adds coverage for approximately 5.2 million vehicles on the road today, equipped with rear integral and beam wiper blades.


text:
More Evidence That Batgirl May Join Injustice
So remember when Gamespot forum user NbAllvEr10000 uncovered Injustice: Gods Among Us source data that confirmed Lobo, Batgirl, Scorpion and Zod as unlockable characters? Well apparently Batgirl has been confirmed, via the Xbox Live Marketplace.
Thanks to YouTube user SFlip, the video below takes you through the process of accessing DLC content via the Injustice menu, and then shows Batgirl available alongside the Injustice Season Pass. Whether this is some sort of digital wizardry or the truth still needs to be confirmed, but it seems like yet another Batman-Family character will be joining the Injustice cast.
Lobo, who was also on the list, was already confirmed by the time of this list, recently set to release next week on May 7th, and given a trailer video that shows off The Main Man’s moves.
If this list is true, what do you think of Scorpion joining the cast, and Zod making his way to Injustice? And who else would you like to see join the cast as DLC for this game or part of the roster for a sequel?


text:
Previously, the smartphones were to be released in only standard color options, But now, the smartphone manufacturers are now experimenting with different colors and want to reveal the phone is various finishes. Just like LG has recently announced its latest flagship LG G6 smartphone with high-end specs and impressive features along with white, black, and platinum color options. Samsung has also launched Galaxy S8 smartphone in five color options. But the Chinese company Xiaomi breaks the record by launching its device in 11 colors, can you imagine it, 11 different colors, you can pick your favorite one. At VogaTech, also read about the Xiaomi Redmi 4A budget friendly smart phone.
When the Xiaomi Mi 6 smartphone has officially launched, the company revealed only four colors: Black, white, Blue, and silver. But now, the TENNA certification site has just revealed the detail about the smartphone, that it will available in 11 different color options, the additional color included, Gold, Gray, Drak Gray, Pink, Champagne Gold, Frosted Black, and Cherry blossom. Unfortunately, these additional color variants are exclusively available only in China, while in the other countries the only four colors are available, which company has unveiled with the official announcement of the phone (Black, white, Blue, and silver).
Moreover, the company has also announced a special color variant of the smartphone, called Ceramic. The Ceramic edition will come with a four sided curved body, and camera rims made out of 18-karat gold.
As far as the specs are concerned, the smartphone features a 5.15 inch display with 1080 pixel resolution and powered by the Qualcomm Snapdragon 835 octa-core processor clocked at 2.45GHz. For the graphics, it packs Adreno 540 GPU, and 6GB of high speed RAM. The smartphone is backed with 128GB of storage, and having a dual 12 megapixel rear camera, while on the front, there is an 8 megapixel front facing camera for capturing selfies. The phone boasts a 3,350mAh battery and has USB type-C port for charging.


text:
Video: Instagram on using Snapchat-like technology
Influencers are the trend makers and their use of a platform depends on how effective it is. Instagram seems to be winning the game with influencers at the moment.
Since Instagram Stories launched in August 2016, it has grown to over 250 million users world worldwide.
Influencer marketing platform Mediakix noticed a decline in Snapchat influencer inquiries after the launch of Instagram Stories. It looked at influencers using Snapchat compared to Instagram over six months from February to August 2017.
It tracked 12 top influencers' posting activity on both Instagram Stories and Snapchat Stories for 30 days. Each day, it counted the number of Stories they posted to each platform.
It discovered that top influencers posted twice as many Instagram Stories compared to Snapchat Stories. Instagram Stories use had grown by 14 percent, whilst Snapchat use had declined by a third.
Influencers posted an average of 7.6 stories per day on Instagram compared to 3.6 per day on Snapchat.
Influencers who earn a living from social media sponsorships, will post on the platforms which give best opportunities for visibility and engagement.
They want to extend their reach and audience. Audiences will go to the platforms that have the best available content -- usually posted by social media influencers.
Two main business models are most prevalent among creators. Four out of five influencers either charge a flat fee per post, or post in exchange for a free product.
There seems to be little consistency in how influencer fees are developed. Content marketing and influencer platform #Hashoff released its influencer marketing report which shows that influencers value authenticity over money.
The report showed that influencers did not want to "sell out." In fact 64 percent surveyed said they would not promote a brand they did not believe in, even if it came with a big paycheck.
The report showed that over a third of influencers -- 35 percent -- have a model that takes into account reach and engagement rates, 18 percent ask their peers, and 22 percent rely on the brands to suggest a price. Worryingly, 17 percent of influencers say they just "Ask for as much as I can get."
Being an influencer is becoming a full-time job. Just six months ago, only 12 percent of respondents said being a creator was their only form of employment.
Now, that number has more than doubled, to 28 percent, and the majority (54 percent) of creators say that, while they are not yet able to support themselves as full-time creators, that is their goal.
Influencers could be responsible for the slowing of Snapchat's user growth since August 2016. This could be attributed to the growth of Instagram Stories. However, Snapchat is making attempts to regain ground with brand marketers.
It is giving its advertisers the ability to include a pixel -- a digital code -- to make ads more trackable and targeted. Whilst it has been on the fence when it came to retargeting, it now has to embrace tactics in order to develop more sophisticated advertising models.
In 2017, influencers have proven their staying power in the world of advertising. On platforms where bots and fake followers are driving up follower counts, reliable metrics are key for both influencers and brands.
Influencers encourage brands to look at metrics beyond likes and follower counts, instead valuing engagement rates, clicks, and sales generated from influencer posts to define ROI.
Previous and related coverage
New data indicates that influencers are pausing their use of social platforms like Snapchat and are moving to greener, more profitable social media pastures.
Brands are building deeper relationships with influencers using instant social platforms like Instagram and Snapchat.
90 percent of micro-influencers charge brands under $250 to write branded posts. Are brands taking advantage of this low cost social marketing option?
Is influencer marketing just another PR tactic or can it really be scaled into a credible media channel with AI?


text:
Microsoft today revealed details of the new Xbox 360 controller Kinect, its rival to the Nintendo Wii.
The first details about the motion free controller, previously dubbed ‘Project Natal’, have been announced ahead of this weeks E3 gaming conference in Los Angeles.
Kinect motion control
Kinect is Microsoft’s answer to the hugely popular Wii motion sensing controls. Although unlike the Wii, it utilizes hand movement rather than a traditional controller. The Kinect device plugs directly into the Xbox 360 and contains a camera, audio sensors and motion-sensing technology, which Microsoft claims can track 48 points of movement on the human body. It can also recognise faces and voices.
The applications of this new device range from casually browsing the Xbox 360 dashboard with a wave of the hand, to controlling an onscreen avatar with full body movements. Microsoft says that this will make playing games more immersive, with your character replicating any move you make.
A new audience
Microsoft says it is aiming the device at the casual crowd, those who might be put off gaming by complicated controls. Corporate Vice President of Xbox Live, Marc Whitten said: ‘People who are intimidated by a controller or game pad will finally get to unlock some of the experiences that are possible in the living room’. With over 40 million Xbox 360 consoles currently on the market, Microsoft are looking to extend their appeal to the family sector in the way that Nintendo have with the Wii.
Microsoft’s Kinect will be followed this week with an announcement from Sony about their Wave motion controller for the Playstation 3, which is likely also being aimed at the same market.
Official Microsoft announcement
Further official details such as price and release date have been sketchy so far, with Microsoft waiting until the official announcement later on this evening to reveal all. However, rumours suggest that Kinect should be available in time for Christmas.
We’ll be getting our hands on the new device as soon as it launches, so keep an eye on our games reviews for the latest news.
How to follow the latest Which? Tech news
Are you a Twitter user? Follow WhichTech on Twitter for regular tech tweets.
Prefer RSS? Don’t miss a thing with the Which? tech RSS feed.
For just the main headlines in newsletter form, sign-up to our weekly Which? tech email.
Apple iPad 2 3G data plans compared – find the best 3G plan for your iPad
Best Android tablets round-up – we look at the best iPad alternatives around
Best cheap laptops for under £500 – find the best laptop deals


text:
Calming Blends tea is now labeled on amazon.com as “Climate Pledge Friendly”. This means eco-conscious consumers can also search for teas, which are “Climate Pledge Friendly” and find our brand. This innovation has been rolled out on amazon.com with plans to extend it to all countries worldwide later this year.
What is Amazon’s Climate Pledge Friendly Program?
Amazon launched its Climate Pledge Friendly Program late last year, to help customers discover and shop for more sustainable products. The goal of the Climate Pledge Friendly Program is to empower consumers to use their spending power to signal their interest in sustainability and push companies to transform how products are made and designed for sustainability. While searching for products on Amazon, customers can now see the Climate Pledge Friendly label on eligible products and learn more about the certifications that make a product Climate Pledge Friendly, as well as use the Climate Pledge Friendly filter to see all the products within a specific category that are climate-friendly. The same signposting will be implemented on Amazon platforms worldwide, in the next few months.
How is Calming Blends Climate Pledge Friendly?
Our tea packaging has been certified by Amazon as “Compact by Design“. These products remove excess air and water, which reduces the carbon footprint of shipping and packaging.
We thank Amazon for recognizing Calming Blends in its Climate Pledge Friendly program and will pledge to do our part in keeping our world a better place for present and future generations.


text:
Business and innovation climate in India shows little improvement over previous years. A new global index, which analysed 142 economies around the world, has ranked India at number 66, way behind developed countries such as Switzerland and ahead of its peers in Central Asia.
India’s ranking on the Global Innovation Index slipped marginally from 64 last year to 66 this year.
Among the BRIC nations, India came last, said the Global Innovation Index 2013. The index, published by Cornell University, INSEAD and the World Intellectual Property Organisation, ranked Switzerland, Sweden, United Kingdom, Netherlands and the United States of America among the top five countries (in that order) on the index.
From the GII report
Research and development spending levels are surpassing 2008 levels in most countries and successful local hubs are thriving. A group of dynamic middle- and low-income countries – including China, Costa Rica, India, and Senegal – are outpacing their peers, but haven’t broken into the top of the GII 2013 leader board.
The report relied on 84 indicators including the quality of top universities, availability of micro finance, venture capital deals and governance among other things to rank the countries.
According to the report, India is ranked 128 out of 142 when it comes to ease of doing business. It is behind Pakistan (92) and Nepal (86). India also fared poorly when it comes to ease of paying taxes. It was ranked at 118, behind China (98) and Russia(53).
In Research and Development, India was at number 30 close to China (24), Russia (31) and Brazil (33).
When it comes to Online Creativity which was measured using parameters such as number of generic top level domains, monthly Wikipedia edits and video uploads on YouTube, India was ranked at 105. That’s behind Sri Lanka but marginally ahead of Pakistan (107).
The use and access of ICT in India also ranked poorly at 96, near to countries such as Bolivia and Ethiopia.
» report link


text:
Sales of Woolworths' SPC Ardmona canned fruit increases significantly.By John Lewis
Sales of Australian-grown canned fruit produced at SPC Ardmona have gone through the roof since they hit Woolworths’ shelves in July, a supermarket representative says.
Woolworths reported sales of its Select brand canned fruit increased 38 per cent across the country, with its Mooroopna outlet leading the charge with a 124 per cent jump in sales.
Earlier this year, Woolworths announced a $7 million deal to source 13 lines of its Select canned fruit products from SPC Ardmona, replacing lines previously imported from South Africa.
Archer St Shepparton Safeway store manager Derek Johnson said the move was in response to customer requests for locally-sourced product.
‘‘Ever since the story of the Cobram growers pulling out trees hit the news, we had customers complaining they wanted to buy Australian product,’’ Mr Johnson said.
‘‘Customers have driven it — and Woolworths has responded,’’ he said.
Woolworths’ head of canned and frozen goods Jim Stephan said it was a significant sales increase.
‘‘This is the first time in years that we have seen such a significant uplift in sales of canned fruit and it’s a clear message that Australian supply is integral to the success of such an iconic Aussie product,’’ Mr Stephan said.
The company reported while canned fruit sales increased 38 per cent nationally within a month of the Aussie-branded cans hitting shelves, stores in the Shepparton, Albury-Wodonga, Benalla and Wangaratta areas recorded sales significantly higher than the national average.
The average increase across stores in the Shepparton region was 59 per cent.
In total, customers had bought more than 890
Woolworths had also announced a further $3 million investment to source all its own-brand canned fruit products from SPC Ardmona.
‘‘This decision will ensure that the supply of all Woolworths own-brand canned apples, pears, peaches and apricots will soon be Australian-sourced,’’ a company spokesperson said.
SPC Ardmona has forecasted the deals will save 50
The Shepparton-based Ambulance Employees Union representative has slammed the latest wage offer from the Victorian Government as 'misleading and insufficient'.
After a tennis career spanning 62 years, of which the last 35 years have been as a coach, Yarrawonga's Jon Coleman is set to retire at the end of 2013.
The recent Kyabram Master Pairs, played over six days with crack sides from near and far, attracted some talented bowlers eager to win the prestige event.
Dempsie Maconachie has been accepted into Jason Coleman’s Ministry of Dance in Melbourne.
Rochester resident Ken Hocking has chosen to use his Christmas lights display to draw attention to a support group for brain tumour patients.
Kyabram Lawn Tennis Club’s annual junior singles tournament again attracted good numbers from across the district.
But have opponents given up the fight?
Tocumwal Pre-School students are proudly flying their KITE at the Tocumwal Lions Community Hostel.
Tooborac Fire Brigade visited Tooborac Primary School last Tuesday to help the school complete its bushfire emergency management plan.
Residents urged to renew fruit fly baits to support local orchards.
Tim Hillier became the first Deniliquin Rhino to notch up a century in the Murray Valley Cricket Association with a sterling 104 against Cobram on Saturday.
Sheep producers backcrossing away from the Dohne breed to Poll Merinos with the perception of improving wool quality have been urged to consider their gross margins.
The hunt is on for a buyer for Benalla and Mansfield Toyota after the business went into receivership last fortnight.
Discover unbelievable local deals from local businesses every week in the Goulburn and Murray Valley area with Leapon.com.au!
Search properties for sale or rent across North Central Victoria and Southern NSW. Visit your local website for local homes....
Search for published and unpublished photos from McPherson Media Group newspapers and magazines. All our photos are available to purchase.
Place an advertisement in any one of McPherson Media Group's local newspapers.


text:
Technology is evolving continuously and is creating an impact on all the ways how people live and spend. The central banks of many countries have initiated their efforts in reinventing the currencies to fit the digital era. Complementing this trend, the United States has become the latest one to research a digital version of the US dollars through CBDC, the Central Bank Digital Currency. There was an executive order from President Joe Biden regarding the digitization of the currency by commenting on the urgency of research and development of a digital currency.
China is now the second-largest economy in the world in terms of gross domestic product. It launched its digital version back in January and now claims to hundred million users for the same. Many other countries are now exploring their CBDCs at various levels, and the IMF also commented on the need for further research and development for CBDCs. So, most of the central banks across the globe are now rolling up their sleeves to explore the scope of digital money.
Kavan Choksi on US CBDC
A joined research report was published by the Massachusetts Institute of Technology and Boston Federal Reserve Bank last month after experimenting on a digital currency project named ‘Project Hamilton.’ Kavan Choksi points out that this used blockchain technology to produce a mighty codebase to handle about 1.7 million transactions every second. This was a bigger achievement as they were aiming to cross the benchmark of about 1,00,000 transactions/second.
On the other hand, the digital Yuan of China is not based on blockchain technology. The primary objective of the digital yuan is to replace the cash payments to be baked up with a mobile app released by the government as well as WeChat. This digital transaction platform uses the existing technological infrastructure of the Chinese bank payment platforms, which the People’s Bank of China has developed.
The benefits of CDBC
In the United States, CBDC can offer more convenience to customers and a cheaper and safer alternative to the current currency options. This could also curb the need for cash transactions and thereby reduce fraudulent transactions. It will also bring more efficiency in collecting taxes and dispersing government funds.
There are also benefits of financial inclusion by having a centralized digital currency. Initially, there are also some potential risks, including technological barriers, security challenges, and privacy threats. There may also be confusion initially as to the potential of CDBC to take over the work of credit markets and commercial banks. CBDC may also raise many political and policy questions, which the government needs to address. There could certainly be a political redesign and transition phase on introducing CBDC and experimenting with it over the next few years after its introduction.
However, all of these are expected to be for good, and CBDC will certainly be a necessity in the future, says Kavan Choksi. It is a fact that people do not really like to use cash, and the demands of the public, too, are pushing the governments to take the route of digital money.


text:
eBay’s headquarters in San Jose, California, U.S.
Bloomberg | Getty Images
The e-commerce giant eBay more closely resembles the New York Stock Exchange than it does Amazon, at least in the eyes of Intercontinental Exchange CEO Jeffrey Sprecher.
“I’m not sure that it’s been fair for the market to hold eBay accountable as an e-commerce company and compare it to the likes of Amazon,” Sprecher said on an analyst call Thursday. He suggested instead that eBay “be viewed as a 25-year-old cash market for collectible goods, which looks a lot more like the New York Stock Exchange than Amazon.”
The comments came as Sprecher sought to clarify ICE’s discussions with eBay. Initial reports of ICE’s inquiry sent shares of eBay sharply higher on Tuesday, and Sprecher’s remarks on Thursday morning added to those gains. But late Thursday, ICE released a statement saying it had ceased exploring strategic opportunities with eBay, sending shares of eBay lower in extended trading.
On the call, Sprecher said the market’s reaction to the inquiry had surprised him. “The idea that we would reach out to people who I know … to talk about whether or not there are parallels between their business and our business, I didn’t think was particularly shocking and outrageous.”
Sprecher said that ICE’s board and senior management routinely brainstorm new ideas to engage with outside parties and that the company’s disciplined but proactive approach to acquisitions “encourages exploratory conversations.”
With eBay in particular, it was the apparent business model similarities that piqued ICE’s interest. ICE operates exchanges for commodity and financial markets, including the New York Stock Exchange.
At their most basic, the two firms match buyers and sellers, Sprecher argued. But he also drew parallels between their data collection and organization, partnerships with third parties on distribution, and transaction-related analytics. “While our respective marketplaces serve different customer bases, they’re still marketplaces, and there is much to be gleaned from similar businesses that operate in different industries, differen


text:
Original Post by Tori McCune:
I agree with the combination of criminal and civil action that is being taken against Volkswagen. Not only did the top officials of the company conspire illegally to beat the emissions standards, but they also violated all trust with consumers. Many consumers purchased VW cars with the understanding that diesel was going to be better for the environment, yet unknowingly they were emitting vast amounts of NOx each time they took a drive. NOx being a serious human and environmental health concern. The consumers that were driven to make positive changes were deceived and the cars they invested in quickly lost value placing them in a financial situation. Volkswagen clearly violated the Clean Air Act when they installed the software that allowed them to emit up to 40 times more pollution than allowed (EPA, n.d.). While states like Colorado are investing their payouts from VW into programs that are set to reduce air pollution and NOx pollution, many of the “Dieselgate” vehicles are still on the road. As mentioned, these vehicles are emitting much higher amounts of pollution than allowed.
Jail time and civil payments for a high-profile company and high-profile case set an example for other companies in the same or similar industry. The negative exposure this has given VW will hurt its reputation and financial future, and will be an expensive endeavor to try to come even close to what their reputation once was. The EPA set an example by exposing VW in the US. The cases brought against VW in the US were public, settled over $14.7 billion in claims with customers, and jailed two managers. Germany cases were fewer, more private, and involved no jail time. It was concerning those vehicles were not caught until 2014-2015 after being on the roads for a few years. But by penalizing managers and enforcing hefty fines and payouts, the Clean Air Act proved that there are big consequences for violating air quality standards.
Riley, Charles. 2018. “Germany Fines Volkswagen $1.2 Billion Over Diesel Scandal.” CNN Business. Accessed April 22, 2020. https://money.cnn.com/2018/06/13/investing/volkswagen-fine-germany/index.html (Links to an external site.)
EPA. n.d. “Learn About Volkswagen Violations.” Accessed April 21, 2020. https://www.epa.gov/vw/learn-about-volkswagen-violations (Links to an external site.).
Colorado Department of Public Health and Environment. n.d. “Volkswagen Diesel Emissions Settlement.” Accessed April 21, 2020. https://www.colorado.gov/pacific/cdphe/VW (Links to an external site.).
Wheels 24. 2018. “Six Things To Know About Volkswagen’s Latest Court Case.” Accessed April 21, 2020. https://www.wheels24.co.za/News/Industry_News/six-things-to-know-about-volkswagens-latest-court-case-20180907
While it’s clear violating trust with a customer base is not strategic for a multi-national corporation, I am curious about the degree to which the changed brand perception impacts future sales. It interests me considering the company is already so massive along with all of VW’s renewable energy goals (see my post for specifics) set in place during September 2018. How else can VW restore its trust in people besides fulfilling all the punishments and creating these zero-emission initiatives? Is it possible VW is going to invest a substantial amount to create the new products only to see it not returned to them in sales totals? Did violating the trust with its once loyal customer base who was willing to try a diesel that was going to be better for the environment ruin its potential to profit from our world’s transition to renewable energy?
The examples posted in this discussion about cases with other automotive companies show VW is not the only company deceiving people about emissions. So, how can a customer be certain selecting to support a different provider won’t put them in the situation of additional financial loss? Also does brand perception play a stronger role when a company’s aiming to move from start-up to mid-size as opposed to one already leading the industry? How may violating trust in the case of cheating on the emissions test be different for a small car company instead of this industry powerhouse considering brand perception and customer loyalty in terms of environmental ethics and deception? Does the fact stock share prices soared after management changes were made provide any insight regarding whether trust can be restored amongst VW’s actual car buyer population?
The questions are relevant in determining whether any particular Clean Air Act enforcement strategy provides a strong deterrent effect for VW and other car companies. While the shareholder actions were dependent on the management team being replaced, the investors wouldn’t be silenced without a fight in terms of proving executives were aware of the defeat device and didn’t share the information. Either way, I am glad you’re focusing on trust violation because financial penalties are very recoverable for a multi-national corporation such as this one. In order to stop this from continuously happening, it’s important to understand, and better yet, communicate to the public elements of this scandal that result in companies taking a hard hit for cheating on emissions tests. Perhaps, it involves showing the public the amount a car loses value when a car company deceives its customers.